Bitcoin Price and Ethereum Gain Strength, LUNC and LUNA Rally
- Bitcoin price is gaining pace above the $19,500 resistance.
- Ethereum surpassed $1,350, XRP is correcting gains.
- LUNC rallied over 50% and LUNA gained nearly 25%.
Bitcoin price started a steady increase above the $19,500 resistance. BTC is currently (03:10 UTC) showing bullish signs above $19,500. If the bulls remain in action, the price could surge towards the $20,500 level.
Similarly, most major altcoins are eyeing a decent increase. ETH is showing positive signs above the $1,350 resistance. XRP is correcting gains and might revisit the $0.45 support. ADA is attempting a decent increase above $0.45.
After forming a base above the $19,000 zone, bitcoin price was able to gain strength. There was a clear move above the $19,250 resistance zone and the 50-hour simple moving average. The price cleared a short-term contracting triangle at $19,250 on the hourly chart. It is now trading well above the $19,500 resistance. On the upside, the price is facing resistance near the $20,000 level. The next major resistance is near $20,500, above which the price might rise to $20,850. Any more gains might send the price towards $21,200.
On the downside, an initial support is near the $19,500 level. The next major support is near the $19,150 zone, below which the price could struggle to stay above $19,000.
Ethereum price also followed a similar pattern after it was able to clear the $1,335 resistance zone. There was a clear move above a major bearish trend line at $1,335 on the hourly chart and the price settled above the 50-hour simple moving average. ETH is now rising and facing resistance near the $1,380 level. The next major resistance is near the $1,410 level, above which the price could visit the $1,450 resistance.
On the downside, an initial support is near the $1,345 level. The next major support is $1,300, below which price could test $1,250.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) was able to stay above the $0.435 level. It recovered and climbed above the $0.45 resistance. The price is now aiming a move above $0.465.
BNB is up over 3% and there was a clear move above the $285 resistance. If the bulls remain in action near $288, the price could rise towards the $295 level.
Solana (SOL) is up 7% and there was a move above the $33.50 level. The next major resistance on the upside sits at $35, above which the price might surge.
DOGE is moving higher and trading above the $0.0620 level. An immediate resistance is near the $0.0632 level, above which it could rise towards the $0.065 level.
XRP price started a downside correction below the $0.50 and $0.48 levels. It is now consolidating near $0.465. Any more downsides might send it towards $0.45.
Other altcoins market today
Many altcoins are rising, including LUNC, LUNA, UNI, GMT, LEO, KSM, BSV, MIOTA, SOL, LDO, ZEC, DOT, and MKR. Out of these, LUNC rallied over 50% and is showing signs of more upsides.
Overall, bitcoin price is gaining pace above the $19,500 resistance zone. It seems like BTC might soon clear the $20,000 resistance zone.